Tax violations amounting to AED 71.48 million was uncovered by Federal Tax Authority (FTA) in local markets across the UAE.
The authorities conducted over 2,200 field inspections during the second quarter of this year, finding over 650 violations.
The FTA has intensified its inspection campaigns in collaboration with the Ministry of Economy, the Federal Customs Authority and other competent authorities to ensure compliance with tax legislation and procedures.
The field inspections conducted during the second quarter of 2021 detected 2.86 million unregistered tobacco products that did not bear the Digital Tax Stamp (DTS).
Another 202,000 excise goods, including carbonated beverages, energy drinks, and sweetened drinks, also failed the inspection, according to Sara Al Habshi, Director of the FTA’s Tax Compliance and Enforcement Department.
According to FTA Director-General Khalid Ali Al Bustani, these raids are essential to "protect consumers and combat tax evasion".
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved plans to create 178,000 jobs and aims to attract 39.3 million tourists.
Sam Bankman-Fried has been sentenced to 25 years in prison for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind's dramatic downfall.
Sam Bankman-Fried, the former billionaire cryptocurrency wunderkind, is set to be sentenced on Thursday over his conviction for stealing $8 billion from customers of the now-bankrupt FTX exchange he founded.
ADNOC has announced the start of crude oil production from its Belbazem offshore block, which is operated through a joint venture with China National Petroleum Corporation (CNPC), called Al Yasat Petroleum.
Shares of Donald Trump's Trump Media & Technology Group surged as much as 59 per cent on Tuesday in their Nasdaq debut, lifted by the former US president's supporters and providing him a potential windfall as he grapples with the costs of several legal cases.